Longboat Energy Share Discussion Threads

[jungmana] 22/6/2024 11:28

Imo this could be the best exploration company to invest in right now with lots going on for a GBP 10 million market cap company.We should soon acquire discovered resources which is very significant in building the company quickly into a producer without exploration risks.Lots of pi's still building , free float getting even tighter and large shareholders also increase from recent tr1s.Personally I would love to have 1 million shares here soon and have about 200k to go.Amazing opportunity at this level imo with lots of important news due over the next 2 weeks;"Progress continues to be made on the Company's Block 2A (52.5%, op) located offshore Sarawak in eastern Malaysia.Detailed mapping of the giant Kertang prospect is nearly complete to support the of identification of an optimal well location to safely test the multiple horizons with hydrocarbon potential. It is anticipated that a final well decision will be made in late 2024 or early 2025.Due to its importance to Longboat, the Company has recently commissioned ERCE to undertake a competent persons report to confirm the potential size and risk associated with the giant Kertang prospect, which is believed to be one of the largest undrilled structures in Malaysia. Longboat intends to publish the results of the CPR when available in the next few months.In addition to Kertang, Longboat has recently completed a key exploration review gate with PETRONAS where additional, significant prospectivity on Block 2A has been identified. Two areas of interest have been delineated: firstly surrounding the Kertang structure, where several large structural closures analogous to Kertang have been mapped and secondly in shallow water, in the southwest of the block, where the continuation of a play that has seen several notable recent gas discoveries made in younger, shallower horizons to the south of 2A.Following recent increased interest levels in exploration for world-scale fields, multiple large companies have approached Longboat regarding Block 2A and the Company is currently planning on running a farm-out process later in 2024 to identify potential partners for the block.In addition to its exploration efforts in Malaysia, earlier this year, Longboat executed an Area of Mutual Interest agreement with another E&P company active in Malaysia to pursue discovered resource opportunities ("DROs") being offered by PETRONAS. The companies subsequently made an application for acreage in shallow water offshore Sarawak and should the partnership be successful, the DROs are anticipated to add significant hydrocarbon resources capable of near-term development to Longboat's growing Asian portfolio."

[arcteryx] 22/6/2024 07:33

Trading pattern suggests big buyers still around. And why wouldn't they be?

[jungmana] 21/6/2024 14:27

Was wondering the same, rns on Monday or Tuesday to set us for the AGM on Thursday will be great.

[katsy] 21/6/2024 14:09

What's happening right now? Tick down and then loads of buys at offer price

[danmart2] 21/6/2024 12:39

My maths for the market cap valuation is 21p is about right at this stage

[jungmana] 21/6/2024 11:26

19.68p are buys :-)

[katsy] 21/6/2024 09:24

Time for a breather today and a little branch pruning. Should be interesting next week with the AGM. CPR expected by end of June, but won't be surprised if that's delayed, these reports always are.

Hopefully get more details on the new license awards.

I reckon we are back at parity now, until further news.

[stockhunters] 21/6/2024 06:58

CPR will give this a step change

[jungmana] 21/6/2024 06:20

Am particularly looking forward to this as cant attend agm;Investor Meet Company Immediately following its AGM, Nick Ingrassia (CEO) and James Menzies (Executive Chairman) will host a live presentation for investors via Investor Meet Company on 27 June 2024, 11:30 BST. Investors can sign up to the presentation via: https://www.investormeetcompany.com/longboat-energy-plc/register-investor Investors who follow Longboat on the Investor Meet Company platform will automatically be invited.  

[jungmana] 21/6/2024 05:08

With the likes of UPL at market cap GBP 40 million , BOIL at GBP 23 million imho LBE is cheap at GBP 11 million ( 20p). Just to give examples compared to 2 exploration companies also operating in south east Asia.
At 7p was simply priced to go burst.
Depending on the DROs being acquired soon and numbers from the huge block 2A CPR , this could be multiples of todays price in the very near future..

[muffster] 21/6/2024 04:52

Great insight nige, thanks

[nigelpm] 20/6/2024 22:19

At 7p it was clearly too cheap. At 20p not so sure.

[pol123] 20/6/2024 21:31

That was me, who said 50p a few weeks back. Got some stick for that :-) I had the foresight to look through Norge/Japex situation. LBE narrative did give a good idea on the directon of travel, that was enough for me.

LBE Mcap will surpass UPL, people just need to do their homework. These re rates do not happen over 48Hrs. Next 2 weeks will be interesting indeed. Also to note that there has been some significant stake building in the last week or so. Again, homework time

[divmad] 20/6/2024 18:47

Not surprising in the slightest, if you take the time to think about it .

[euclid5] 20/6/2024 18:00

wonder why the market is pricing LBE at 25% of UPL's value and considering they have 1.33B shs in issue, against 57m

[jungmana] 20/6/2024 14:56

Well looks like whoever 2 weeks back when we were about 7p predicted 50p by Christmas may be spot on.Doesn't look too far away now.GBP 10 million market cap at 19p is too low for lbe.

[hpotter] 20/6/2024 10:18

The DROs para above makes it clear they are aiming for an Asian portfolio, not just Malaysia.

[jungmana] 20/6/2024 09:59

The number 1 criteria for any investment on the market is management. Menzies and the other 3 BOD members have an excellent track record and will deliver here;Block 2A"The Company has recently commissioned ERCE to undertake a competent persons report ("CPR") to confirm the potential size and risk associated with Kertang, believed to be one of the largest undrilled structures in Malaysia. It is anticipated the CPR will be published at the end of June. Following recent increased interest levels in exploration for world-scale fields, multiple large companies have approached Longboat regarding Block 2A. Having consulted with PETRONAS, the Company now intends to run a farm-out process during H2-24 to identify a suitable partner."DROs"Longboat is pleased to announce that it has provisionally been granted an award, subject to the successful negotiation of certain key contractual terms, for acreage in shallow water offshore Sarawak containing several material, undeveloped gas fields capable of near-term development. These resources are an important addition to Longboat's growing Asian portfolio."  

[arcteryx] 20/6/2024 09:55

I think people are seeing one of these rare opportunities where there is a massive disconnect between the share price and the potential and likely trajectory here, now that the company has made this important pivot and is fully focussing on where the value is

[stockhunters] 20/6/2024 09:51

Impressive just how few sellers there are

[jungmana] 20/6/2024 08:10

Had a small top up 23,477 there. At near 800k shares and still aiming for a million shares here.

[arcteryx] 20/6/2024 08:02

Interesrting to see E. Machnikowski increasing his stake on news of this pivot to SE Asia. He bought most of his initial stake in the 20s last year, and things are looking way better now

[jungmana] 20/6/2024 08:00

He should buy back in. The prospects here are better today than ever been with the DROs replacing the NS jv which imo was a heavy weight on our shoulders. Also more streamline company and experience BOD focused solely on Malaysia